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MS HB107

Bill

Official Source

Status

Failed

2/26/2014

Primary Sponsor

Stephen Horne

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Increases homestead property tax exemptions for persons aged 65 or older or totally disabled, effective January 1, 2014
  • For counties that have completed property valuation updates: exemption increases from $7,500 to $10,000 of assessed homestead value for disabled and elderly homeowners
  • Exemption amount applied in tiered table based on assessed property value, ranging from $6.00 to $300.00 depending on county valuation status
  • One-half of exemption applies to school district taxes and one-half to county general fund taxes
  • Changes apply to exemptions claimed in 2014 and subsequent calendar years with reimbursement beginning in 2015

Legislative Description

Homestead exemption; increase for persons 65 years of age or older or totally disabled.

Last Action

Died In Committee

2/26/2014

Committee Referrals

Ways and Means1/7/2014

Full Bill Text

No bill text available